An agreement has been reached in principle for sale of operating assets of Madison County Record and the Hartselle Enquirer by its owner Carpenter Newsmedia, LLC. Boone Newspapers Inc. has also agreed in principle for sale of operating assets of the Franklin County Times. The sale is expected to close in February 2019.
The buyer will be the Shelton family in Decatur. The family owns TN Valley Media Inc. (TVM) and publishes Madison Weekly and operates the Redstone Rocket on Redstone Arsenal under contract with the US Army. TVM also owns other newspapers in the region including The Decatur Daily, Times Daily in Florence, Shoals Courier Journal, Moulton Advertiser, Advertiser-Gleam in Guntersville; TNValleyStuff.com, a digital agency Reach 256 and 110 billboard faces with TVM Outdoor.
Due diligence is underway now toward completion of the transaction.